The global PS market analysis in September
The global PS market analysis in September
Because of lower raw material costs and weak demand in the downstream terminal market, the global PS trend has declined.
The price of styrene continued to slide last week, despite a bullish market for pure benzene in the two regions. Among them, the price of styrene in Asian markets is down by $10 per ton from the beginning of September.
For recent steady decline in PS market movements, a Chinese dealers commented: "with pure benzene prices continue to rise, in the coming days styrene number once after reaching the balance of supply and demand of their price will rise. Affected by it, PS market quotation will also stop the stabilization, even show signs of rebound.
Unlike in the east Asian market, the price of styrene in southeast Asia is basically flat in early September. Thanks to the strong support of upstream raw material cost, the regional PS trend is temporarily stable. However, some local traders are worried about the future of the PS market in southeast Asia. They argue that the demand for the PS market in southeast Asia will weaken as China's National Day holiday approaches.
A supplier of GPPS (ge polystyrene) from southeast Asia said on Saturday that he had raised $30 per tonne of Vietnamese shipping offers on Saturday. However, the supplier also noted that the offer for the resin in the Egyptian market in the coming days is still under negotiation. He will be able to cut his GPPS bid, subject to the impact of eid al-fitr in Egypt in early October.
On the European side, although the spot price of styrene in the region is still down this week compared with the beginning of September, the market price of FOB western European styrene has risen by 30 dollars per ton this week compared with last week.
Recently, a French dealer reached a few deals with a $30-50 per ton margin. While the PS market has strengthened in September compared with the previous month, the overall PS demand in Europe remains weak, the dealership said. "For the PS market quotation in October, we don't think the volatility is very large, and the impact of the upstream monomer contract price is down slightly." "The French dealer added.
